Are gamblinglottery winnings subject to Michigan individual income

taxes taken out of lottery winnings
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Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their

The Internal Revenue Service imposes a federal tax rate of 24%, and California's state income tax, with rates ranging from 1% to %,

taxes on lottery winnings texas When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

taxes taken out of lottery winnings Any payout over $5,000 after deducting the cost of the wager will automatically have 24% withheld for federal taxes The actual rate at which